Father-in-law passed on Thanksgiving 2021. There was approximately $700 of attorney, etc. estate expenses through the end of the calendar year but no income. The SS-4 form that provides the estate EIN indicates that Form 1041 has a due date of 4/15/2022.
In reading the IRS 1041 instructions it indicates if estate income is less than $600 there is no need to file Form 1041 for that year but do we still have to file the first 1041 for 2021 since the SS-4 form indicates a due date of 4/15/2022?
Also, there will be capital gains and dividend income in 2022 from shares of stock that we plan to sell out of the estate and distribute the proceeds to the beneficiaries and close the estate in 2022. So trying to understand in general whether we can simply proceed without doing a 1041 for 2021 (not worry about the $700 estate expenses in 2021) and only do one "First and Final" 1041 in for the 2022 tax year with the distributions of earnings to beneficiaries via K-1 forms ?
Thanks in advance.
